<\/div><\/div><\/div> DECEMBER, 2020 2 cash 4,320.00 sales 4,320.00 3 cash 1,000.00 account receivable 1,000.00 4 salaries expense 1,300.00 direct labor 3,900.00 cash 5,200.00 5 other operating expenses 2,765.00 cash 2,765.006 raw materials 10,850.00 accounts payable 10,850.00 7 work in progress 6,085.00 manufacturing overhead 6,085.00 8 work in progress 15,510.00 raw materials 9,660.00 manufacturing overhead 5,850.00 9 finished goods inventory 22,175.00 work in progress 22,175.00 10 supplies 1,310.00 supplies inventory (1640 -330) 1,310.00Loss on inventory raw material inventory (2,230-2380 = 50 cash 27,410.00 sales (27,410 105 fee) other income (3,500 x 3 %) 27,305.00 cost of goods sold finished goods inventory 20,530.08 20,530.08 (27,305 \/ 1.33 % ) 13 FICA 1,200.00 FUTA 710.00 SUTA 435.00 Accrued Payroll taxes 2,345.00 Depreciation\/Interest Recognized for the period Depreciation expense 600.00 Accumulated Depreciation -Furniture 600.00 (26,000-2,000 \/ 10 = 2,400 x 3\/12) Depreciation excpense 750.00 Accumulated Depreciation -Equipment 750.00 (18,000-3,000 \/5 = 3,000 x 3\/12)Depreciation excpense Accumulated Depreciation Equipment 750.00 (18,000-3,000 \/5 = 3,000 x 3\/12) Depreciation expense Accumulated Depreciation - Machinery 15,000 \/ 7 x 2\/12 = 357.14 357.14 Interest Expense Interest Payable 225.00 (15,000 X 9% X 2\/12=225)",
"transcribed_text": "",
"related_book": {
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"edition": "6th edition",
"authors": "J. Chris Leach, Ronald W. Melicher",
"cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1482.jpg",
"uri": "\/textbooks\/entrepreneurial-finance-6th-edition-1482",
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},
"question_posted": "2024-06-28 05:39:50",
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